The attempt of a green transition has already had disastrous global consequences, according to Rosneft CEO
Rosneft CEO Igor Sechin gave the keynote speech at the 2023 SPIEF Energy Panel.
In his opinion, the West’s attempted utopia of a green transition has already had disastrous global consequences. "The adherents of the "green energy transition," without clearly defined goals, sound technologies, and an understanding of the long-term consequences of their actions, launched a process that created a crisis in the global energy industry and spun inflation in world markets. "All this was exacerbated by the impact of the pandemic", - Igor Sechin pointed out.
The declared energy transition is not backed up with required resources and technologies. "Unfortunately, the declared energy transition is not backed by the necessary technologies. We are faced with the fact that "renewable energy" is in fact not renewable", - the head of Rosneft said.
Also in his opinion, the key issue is the price of the energy transition. According to the assessment made by the IEA, by 2030 investment in "clean energy" should grow almost threefold from the current US$ 1.7 trillion to US$ 4.6 trillion per year, that is, from 2% to 5% of world GDP.